Posts Tagged ‘Income Tax’


7 Ways The 2017 Tax Bill Affects Connecticut Taxpayers

 

 

1) Decrease in Income Tax Rates

 

The 2018 income tax rates are as follows:

Single                                        Married Filing Joint 10%  up to $9,525                      Up to $19,050 12% $9,526 to $38,700               $19,051 to $77,400 22% $38,701 … Continue reading »


A Summary of the Proposed Tax Law & How It Affects You

The US senate passed their version of the tax reform – the Cuts and Jobs Act – on December 2nd.  The bill differs from the version that the House passed last month, which means the 2 houses will have to reconcile their differences before a final bill can be voted on and passed before it can be presented to the President for his signature.

 

Senate Version

New brackets & break points. The Act would provide seven tax brackets for … Continue reading »


Shred Week A Huge Success

Borgida & Company Clients Save the Planet While They Clean Up!

 

Dozens of clients joined in for our first “Shred Event” last week. Eight very full, heavy bins full of old financial documents, checkbooks, tax returns, etc. were shredded as relieved clients unloaded years of unneeded documentation. Over 1,800 pounds were collected last week.

Many people didn’t realize that by shredding their information, they are actually taking part in a “green initiative”. Shredded material gets recycled; and by using less … Continue reading »


4 Reasons NOT to Wait for Your K-1

Four on dices

Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1’s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity.  Don’t wait for this form to get started on your income tax return.


5 Proven Steps to Survive a Connecticut Labor Department Audit

Number five on the start of a running track

You received a notice of audit from the State of Connecticut Labor Department. What should you do?  Follow these 5 Proven Steps to Survive a Connecticut Labor Department Audit.

 

1) Give a Power of Attorney to Your CPA

To have your CPA represent you in front of the Connecticut Department of … Continue reading »


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